Pips and Bounce is a ping pong lounge and social club business that provides space for ping pong lovers to play and party. This business was started 2013 in Portland by two brothers, Eugene Jung and Michael Jung.
The Jung brothers, who hail from Appalachian Kentucky, used to play a lot of ping pong in their basement rec room when they were little. For him, ping pong was a great way to spend time, but when they moved to Portland, they missed ping pong a lot.
They were looking for a suitable space to play ping pong but couldn’t find one in Portland. Seeing this opportunity, they started the Ping Pong Parties business in Portland in 2012.
Their dream was to build a ping pong paradise, so they ran a campaign on Kickstarter in December 2019 and raised $51,059. They had to face many difficulties in building the Ping Pong Paradise at the time but everything went well in the end.
What is Pips and Bounce?
Pips & Bounce is a ping pong lounge and social club that provides a space for ping pong parties. Their lounge has the facilities of the garage, rec room, restroom, play desk, TV, front bar, kitchen, corner suite, etc.
A ping pong table is $16 per person for 30 minutes only. They have a 1500-square-foot private event room where parties and corporate events are held.
|Pips and Bounce
|Eugene Jung and Michael Jung
|Ping Pong Lounge and Social Club
|$500k for 10% equity
|Episode (Shark Tank USA)
|Feb 28, 2020
|Out of Business
|Portland, Oregon, US
|Lifetime Worth (Sales)
|Buy and Watch
Another Shark Tank Pitch
Who Is The Founder Of Pips and Bounce?
The founders of Pips and Bounce Company are Eugene Jung and Michael Jung, two brothers living in Portland. They started this company in 2013.
Eugene worked as a senior specialist at Apple after completing his economics studies at the University of Michigan. In New York Base Law Practice Curtis, Mallet-Prevost, Colt & Mosle LLP he spent 9 years as Business Development Manager. In September 2019, he started a Skaut Coffee Roasters business.
How Was The Shark Tank Pitch Of Pips and Bounce?
After entering the Shark Tank show, Jung Brother asked the sharks for $500k for 10% equity. They explained their business model to the Sharks and their plan to launch a franchise.
Their profit margin in this business is 7%, due to which the shark felt that the business was in the early stage. So all the sharks were out.
What Happened To Pips and Bounce After Shark Tank?
Pips & Bounce did not get funding on Shark Tank but one good thing is that the business got free promotion.
Even after the free promotion, Jung Brother did not get any benefit because this episode was aired during the COVID-19 pandemic. Re-opened their business after the pandemic but did not make much profit from it.
Eugene Jung found out during his research that there are a lot of people who are searching for coffee online. He decided that he would do a coffee business so he bought a coffee roaster and started the Sakaut Coffee Roasters business.
What’s new on Pips and Bounce
Last Update: September, 2023
According to Yelp, most of the users visit Pips & Bounce to spend their time and they like it a lot. As of September 2023, the company’s lifetime revenue is $3.5 million.
Pips and Bounce Shark Tank Update
Like other businesses, Pips & Bounce was shut down during the COVID-19 pandemic. The business was re-opened in July 2020 but due to some personal reasons, the business had to be closed in August 2020.
The setup of the business was completed on July 15, 2021, and now people visit Pips & Bounce’s Portland Social Club to spend time.
What Is Pips and Bounce Net Worth?
Pips & Bounce has a net worth of $1.2 million. The founders had sought $500k funding from the Sharks for their company at a $5 million valuation, however, they did not receive the funding. Most sharks said that this company is in the early stages.
Is Pips & Bounce Still In Business?
Pips & Bounce business has been running since 2013 and Jung is trying to grow this business. The business was closed in 2020 during the pandemic but was re-opened in 2021.
The address of this business is Portland, Oregon, United States, and 11-50 employees are working in it.
Yes, Pips & Bounce is still in business as of September 2023.
frequently asked questions
Who founded Pips & Bounce?
Pips & Bounce was founded in 2013 by Eugene Jung and Michael Jung.
Did Pips & Bounce get a deal on Shark Tank?
No, Pips & Bounce didn’t get the deal on Shark Tank. Sharks said the business is at an early stage.